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Loans Payable (Tables)

9 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Schedule of future maturities of loans payable

Future maturities of loans payable are as follows:

Year ended June 30,			Avidbank Note				Seller’s Note				Fair Value				Debt Costs				Total
2017			$	—							$	(29,254	)		$	(3,885	)		$	(33,139	)
2018				1,111,500								(78,153	)			(15,545	)			1,017,802
2019				1,111,000								123,452				(15,545	)			1,218,907
2020				1,111,000								132,751				(15,545	)			1,228,206
2021				1,111,000								142,749				(15,545	)			1,238,204
2022				555,500				5,707,184				75,363				(7,772	)			6,330,275
Total payments			$	5,000,000			$	5,707,184			$	366,908			$	(73,837	)		$	11,000,255
Less current portion																				833,750
Non-current portion																			$	10,166,505

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- References

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- Definition

Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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